Canada's Printed Circuit Board Market Expected to Grow 4.5% CAGR from 2025-2031

The Canada Printed Circuit Board (PCB) market is expected to grow at a CAGR of 4.5% from 2025-2031, driven by advancements in electronics, rising consumer demand across various industries, and investments in green technologies, telecommunications, and manufacturing. The automotive sector is a significant contributor, with the expansion of electric vehicles and government targets of 60% zero-emission vehicle sales by 2030. Additionally, the continued rollout of 5G networks and the expansion of Internet of Things (IoT) devices drive consistent demand for advanced PCBs in telecommunications and consumer electronics.

The Canada Printed Circuit Board (PCB) market is projected to grow at a CAGR of 4.5% from 2025 to 2031, driven by advancements in electronics, rising consumer demand across various industries, and substantial investments in green technologies, telecommunications, and manufacturing [1].

Several factors are contributing to this robust growth. The automotive sector, where PCBs are integral, has seen a substantial production increase from $55.23 billion in 2020 to $74.6 billion in 2023, driven by the industry's transition to electric vehicles (EVs) [1]. The expansion of electric vehicles, with over 85,500 annual sales of battery electric and plug-in hybrid vehicles, is increasing the demand for high-performance PCBs in the automotive sector. Government targets of 60% zero-emission vehicle sales by 2030 further accelerate this growth [1].

The aerospace sector is also benefiting from investments like the Strategic Innovation Fund's (SIF) $350 million initiative in 2023 to support Sustainable Aviation Technology, creating demand for specialized PCBs used in green technologies [1]. The telecommunications sector is a significant contributor, with the widespread deployment of 5G and the growing use of Internet of Things (IoT) devices further boosting the market [1].

The continued rollout of 5G networks, along with the rapid expansion of IoT devices, drives consistent demand for advanced PCBs in telecommunications and consumer electronics. The integration of AI with 5G networks necessitates high-speed, low-latency PCBs, while Canada's Quantum 2030 strategy, which fosters innovation in quantum hardware, further enhances the market's growth potential [1].

Additionally, the Canadian government's commitment to investing US$29 billion over 20 years in modernizing defense systems, including surveillance, command and control, and air weapons systems, would also increase demand for advanced PCBs in defense applications [1]. Collectively, these factors would significantly boost demand, ensuring a prosperous future for Canada's PCB market.

Market segmentation by product type shows that Multilayer PCBs have the highest potential for growth, as they play a vital role in high-tech industries including automotive, healthcare, and telecommunications [1]. The automotive sector holds the maximum revenue share in the Printed Circuit Board Market of Canada, owing to the nation's expanding focus on electric vehicles, smart infotainment solutions, and advanced driver-assistance systems [1].

In conclusion, the Canada Printed Circuit Board market is poised for strong growth in the coming years, driven by a combination of technological advancements, government investments, and increasing consumer demand across various industries.

References:
[1] https://www.globenewswire.com/news-release/2025/05/27/3088794/28124/en/Canada-Printed-Circuit-Board-Market-Report-2025-2030-Strong-Growth-Projected-Amid-EV-Boom-5G-Rollout-and-Defense-Investments.html